How To Start A Security Company Business

Are you are an ex-military or law enforcement officer looking for a new career?

Do you have experience in the security industry and a high degree of natural protective instincts?

Do you have very good physical health, endurance, and excellent knowledge of criminal law and administration of justice, as well as skills in risk assessment and reading people?

If so, you just might have what it takes to start a security company.

You will also need to have an excellent business administration and personnel management skills to establish your reputation as a trustworthy and reliable protection service provider. If this sounds tailor-made for your experience and personality, you just may have a lucrative future in the security industry.

How Big Is The Security Industry?

IBIS World reports that the security industry brings in $31 billion per year, posting modest growth rates in the last five years. Over 10,000 businesses employ more than 750,000 employees. If you include IT security, the numbers swell to millions of full-time employees and hundreds of billions of dollars of revenues.

Why Starting A Security Company Now Is A Good Idea

As U.S. businesses recover from the recession, they have more revenue to devote to security services. New business startups and construction projects are increasing, expanding the potential clientele market.

Private investigation and IT security are some of the fastest growing markets within the security industry, according to a research study released by ASIS International.

Increased awareness of and attention to reports of terror and violence increases people’s perceived need for additional protective measures for themselves, their loved ones, homes, and businesses. Your main competition will be from security alarm companies.

Security Company Business Facts

Here are some facts and figures about the security business you should consider:

Startup costs

According to SecurityOfficerHQ, starting a security company costs about $7,500 in upfront investment for insurance, shared office space for six months, licensing and legal registrations, equipment, marketing and website development, and contingency fund. BPlans estimates startup costs at closer to $77,000. It all depends on your location, type of services and size of your business.

How much do security professionals make?

The Bureau of Labor Statistics reports that the wage range for security professionals is $8.36 to $20.43 per hour or $17,390 to $42,490 per year.

How much do security companies charge?

Security pricing varies depending on the service location and duration, time of day, number and type of guards (armed or unarmed, the level of training) needed, travel time, risk factors and any special requests by the client. The typical range runs between $10 to $100 per hour. Typical costs for an unarmed guard are $12 to $20 per hour. Armed guard services cost more at $18 to $25 per hour. Late night or high-risk situations requiring highly trained personnel costs even more.

How do security companies find customers?

Direct mail to homes and businesses, community fliers, social networking and face-to-face contact with potential clients are traditional methods of advertising. Print, radio and TV ads are another way to get your name out there. A professional website, a security-related blog and an active social media presence will help you harness the power of social media marketing in the 21st century. As your reputation grows, you may also get word of mouth referrals from satisfied clients.

What skills are required?

Either law enforcement or military training or security guard certification and license; a private patrol operator’s license, knowledge of criminal law and law enforcement techniques, people skills, risk and needs assessment, business administration, fingerprinting and background checks, keen observational and deduction skills, attention to detail, psychological analysis, legal compliance, firearm operation, new employee training and skill enhancement, concealed carry permits, computer savvy, record keeping, scheduling, bookkeeping and accounting, logistics, cool head under pressure, excellent health and physical condition, discernment in hiring the best trained and qualified people and utilizing their skill sets to the best advantage.

What do I need to operate a security business?

A clean record (applies to all employees), experience in the industry, business license, background checks, licenses, permits, security policies and restrictions, firearms and firearm training, procedures for a wide variety of potential security situations, financing, manpower, computer, surveillance cameras and monitors, communication devices, vehicles, a knowledge of law enforcement and criminal law, restraint procedures, physical training, a lawyer to handle client and employee contracts, liability insurance, office space, and honesty and integrity in business operations.

Security Business Ideas

The security industry provides a wide variety of services: bodyguard, private investigation, repossession, event security, workplace security and IT security. Decide what you want to specialize in and expand your services as your business grows and you are able to hire qualified specialists in each security field.